ALBUQUERQUE, N.M. — If you’re a credit union customer, be prepared for a name change.
In the wake of announcements by two prominent local credit unions that they were changing their names and images, New Mexico Credit Union Association President Paul Stull predicts more of the institutions will follow suit in an attempt to attract business from a more diverse customer base.
“I do think we will see more name changes as they (credit unions) try to remove barriers to customers caused by perceptions,” Stull said.
Earlier this month, the former New Mexico Educators Federal Credit Union became “nusenda credit union,” a name created with help from a national firm The Branding Consultancy.
U.S. New Mexico Federal Credit Union also plans to change its name and will reveal its new identity on March 2.
Nationally, more than 230 credit unions changed names from 2006 through 2012, according to a study by The Financial Brand an online magazine that tracks financial trends.